Šiaulių Bankas has granted a loan for the construction phase II of the residential project “Baltas lapas” in Naujamiestis, managed by EIKA. The amount of EUR 5 million is provided for three years. The second phase of the project includes three houses and 145 apartments, of which 45% have already been preliminarily sold..
Šiaulių Bankas financed the construction of “Baltis lapas” and the first phase, providing a loan of EUR 7 million. More than 90 percent of the apartments in the first phase have been sold.
“This is the second project in which we cooperate with Šiaulių bankas. We are pleased that even during the pandemic, the bank trusts the sustainability of our project and shows great confidence in the EIKA team,” says Domas Dargis, CEO of EIKA Group.
“We made the decision to finance the construction of the second phase of “Baltis lapas” during the quarantine, when the pandemic caused great uncertainty in the real estate market and banks were cautious about crediting the construction sector. The financing of the project was determined by the successful sales of the first phase and the high initial interest of customers in the second phase of housing. In addition, we appreciated the attractive location of the project, the high reputation and experience of “Eika”, said Rimvydas Mockus, Head of the Vilnius Region of Šiaulių Bankas.
The development of “Baltas lapas” began at the end of 2018, and it is planned to build 330 apartments in several stages. The project is being developed on a 1.26 ha “convertible” plot, the planned investment is 35.5 million EUR, and the completion of the works is at the end of 2022. This is a quarter designed for bright urban individualists who like both peace and the hustle and bustle of the city.
